Economist Attia al-Fitouri said that the figures announced by the Central Bank of Libya (CBL) regarding the decline in inflation rates “do not reflect the actual economic reality.”
Fitouri explained in a statement to the Qatari website “The New Arab” that the official indicators do not reflect the daily suffering of the citizen, stressing that the reality in the markets is different from the published figures.
He stressed that devaluing the Libyan dinar does not represent a solution to the budget deficit or the dilemma of withdrawing from foreign reserves, but may lead to additional pressure on the parallel market and increase prices.
Fitouri noted that these policies may exacerbate the economic burdens on citizens, in light of the continued decline in purchasing power and the absence of practical solutions to address the crisis.